Latest news with #DiriyahCompany
Mid East Info
6 days ago
- Business
- Mid East Info
Diriyah Company Announces $1.53 Billion Construction Contract for The Diriyah Arena Superblock - Middle East Business News and Information
Branch of China Harbour Engineering Company Ltd will undertake the construction works for Diriyah Arena, three office buildings, and parking for 4,000 vehicles, marking another major milestone in Diriyah's transformation into a world-class cultural and lifestyle destination. The new 20,000-seat Diriyah Arena will anchor a dynamic mixed-use complex blending heritage and innovation, designed to host concerts, sports, and global events. DIRIYAH, July, 2025: Diriyah Company has awarded a contract worth $1.53 billion (SAR 5.75 billion) to Branch of China Harbour Engineering Company Ltd for the construction works of the Arena Block, a district that includes the multi-purpose indoor Diriyah Arena, three mixed-use office buildings, and a parking facility. Diriyah Arena will have a gross floor area (GFA) of approximately 74,000 square meters and is designed as a flexible and scalable venue to accommodate events such as concerts, sporting events, esports competitions, exhibitions, and live shows. With a seating capacity of 20,000 spectators, it aims to attract residents and visitors from around the world. Designed by renowned global architecture firm HKS Inc., the Diriyah Arena's design draws inspiration from the natural geology surrounding Diriyah, while honoring traditional Najdi architectural elements, creating a harmonious blend of heritage and modernity. The Diriyah Arena will enhance the quality of life in Diriyah by providing a space for residents and visitors to enjoy events, fostering community spirit, and contributing to overall well-being. In addition to the Diriyah Arena, the Arena Block development will include three mixed-use office plots designed by international architects John McAslan + Partners, covering approximately 114,000 square meters, supported by state-of-the-art technology and infrastructure. The contract also includes over 4,000 parking spaces to support both Diriyah Arena events and office facilities. Jerry Inzerillo, Group CEO of Diriyah Company, said: 'The iconic Diriyah Arena will be a landmark entertainment complex in Diriyah that reinforces the City of Earth's growing global role in shaping Saudi Arabia's artistic and cultural future, in alignment with Vision 2030. By attracting both residents and global visitors to experience world-class sports and performances, the Diriyah Arena firmly demonstrates our commitment to creating a world-leading gathering place. It also highlights the rapid progress we are making in developing a diverse range of assets across the Diriyah project.' Yang Zhiyuan, CEO of China Harbour Engineering Company East, said: 'This award marks a significant milestone for CHEC in the Kingdom of Saudi Arabia. CHEC will bring to the project a wealth of global experience, technical expertise, and a proven track record in delivering the complex. We will mobilize the best resources and talents from across our international network and strive for excellence to ensure the successful and timely delivery of this world-class Arena. We remain committed to delivering excellence in support of Vision 2030. We are deeply proud to be part of it.' This contract is the latest in a series of major announcements so far in 2025 as Diriyah Company continues to accelerate its development program for Diriyah, realizing milestone after milestone. In addition to this contract, December 2024 saw China Harbour Engineering Company awarded a $202.2 million (SAR 758.5) million contract by Diriyah Company for bulk excavation works. The Diriyah Arena will join world-class cultural and entertainment assets in Diriyah including the Royal Diriyah Opera House, nine museums, and academies, all featuring Najdi architectural elements inspired by the At-Turaif UNESCO World Heritage Site. Backed by the Public Investment Fund (PIF), Diriyah is a large-scale urban development project spanning 14-square kilometers that will include homes for approximately 100,000 residents, generate over 178,000 jobs, host approximately 50 million annual visits, and contribute around $18.6 billion (SAR 70 billion) directly to Saudi Arabia's GDP. About Diriyah: Diriyah, Saudi Arabia's premier historical, cultural, and lifestyle destination, is a key component of Saudi Arabia's 2030 Vision. A short 15-minute drive from Riyadh's city center, this 14-square-kilometer development holds historical significance as the birthplace of the Kingdom of Saudi Arabia, dating back to 1727. Currently being developed by Diriyah Company, Diriyah is undergoing a transformation into an authentic Najdi-style mixed-use urban community. Diriyah's centerpiece is At-Turaif, the UNESCO World Heritage Site inscribed in 2010, showcasing the ancient adobe capital city of the First Saudi State, dating back to 1766. Upon completion, Diriyah will host 100,000 residents, workers, students, and visitors, offering a diverse range of cultural, entertainment, retail, hospitality, educational, and residential spaces. The first of those spaces include Bujairi Terrace, Riyadh's new premium dining hub with over 20 global and local restaurants and cafes that enjoy uninterrupted views of At-Turaif. Bab Samhan, a Luxury Collection Hotel is the first hospitality offering in Diriyah, providing a tranquil experience with panoramic views of Wadi Hanifah. Diriyah's development provides a dynamic environment that celebrates Saudi Arabia's rich cultural history. About Diriyah Company: Diriyah Company was established in 2023 and joined the Public Investment Fund's (PIF) portfolio of giga projects. The Company is responsible for developing the Diriyah project, the birthplace of the Kingdom of Saudi Arabia and its foremost historical, cultural and lifestyle destination. A dynamic mixed-use developer, Diriyah Company is redefining urban planning to develop Diriyah, 'The City of Earth', while adhering to the highest design, development, and preservation standards. The company ensures Diriyah's cultural landmarks are complemented by world-class retail offerings, fine-dining experiences and leading hospitality brands. As a PIF company, its mission focuses on opportunities in development, hospitality, investment, retail and office leasing, along with strategic asset management, underscoring the commitment to ensuring successful business outcomes and sustainable growth under the strategic direction of Vision 2030. The Diriyah Company actively forges long-term partnerships to realize its vision of establishing Diriyah as one of the world's greatest gathering places.
Zawya
7 days ago
- Business
- Zawya
Diriyah Company announces $1.53bln construction contract for The Diriyah Arena Superblock
Branch of China Harbour Engineering Company Ltd will undertake the construction works for Diriyah Arena, three office buildings, and parking for 4,000 vehicles, marking another major milestone in Diriyah's transformation into a world-class cultural and lifestyle destination. The new 20,000-seat Diriyah Arena will anchor a dynamic mixed-use complex blending heritage and innovation, designed to host concerts, sports, and global events. DIRIYAH, Diriyah Company has awarded a contract worth $1.53 billion (SAR 5.75 billion) to Branch of China Harbour Engineering Company Ltd for the construction works of the Arena Block, a district that includes the multi-purpose indoor Diriyah Arena, three mixed-use office buildings, and a parking facility. Diriyah Arena will have a gross floor area (GFA) of approximately 74,000 square meters and is designed as a flexible and scalable venue to accommodate events such as concerts, sporting events, esports competitions, exhibitions, and live shows. With a seating capacity of 20,000 spectators, it aims to attract residents and visitors from around the world. Designed by renowned global architecture firm HKS Inc., the Diriyah Arena's design draws inspiration from the natural geology surrounding Diriyah, while honoring traditional Najdi architectural elements, creating a harmonious blend of heritage and modernity. The Diriyah Arena will enhance the quality of life in Diriyah by providing a space for residents and visitors to enjoy events, fostering community spirit, and contributing to overall well-being. In addition to the Diriyah Arena, the Arena Block development will include three mixed-use office plots designed by international architects John McAslan + Partners, covering approximately 114,000 square meters, supported by state-of-the-art technology and infrastructure. The contract also includes over 4,000 parking spaces to support both Diriyah Arena events and office facilities. Jerry Inzerillo, Group CEO of Diriyah Company, said: 'The iconic Diriyah Arena will be a landmark entertainment complex in Diriyah that reinforces the City of Earth's growing global role in shaping Saudi Arabia's artistic and cultural future, in alignment with Vision 2030. By attracting both residents and global visitors to experience world-class sports and performances, the Diriyah Arena firmly demonstrates our commitment to creating a world-leading gathering place. It also highlights the rapid progress we are making in developing a diverse range of assets across the Diriyah project.' Yang Zhiyuan, CEO of China Harbour Engineering C ompany Ltd.(Middle East), said: 'This award marks a significant milestone for CHEC in the Kingdom of Saudi Arabia. CHEC will bring to the project a wealth of global experience, technical expertise, and a proven track record in delivering the complex. We will mobilize the best resources and talents from across our international network and strive for excellence to ensure the successful and timely delivery of this world-class Arena. We remain committed to delivering excellence in support of Vision 2030. We are deeply proud to be part of it.' This contract is the latest in a series of major announcements so far in 2025 as Diriyah Company continues to accelerate its development program for Diriyah, realizing milestone after milestone. In addition to this contract, December 2024 saw China Harbour Engineering Company awarded a $202.2 million (SAR 758.5) million contract by Diriyah Company for bulk excavation works. The Diriyah Arena will join world-class cultural and entertainment assets in Diriyah including the Royal Diriyah Opera House, nine museums, and academies, all featuring Najdi architectural elements inspired by the At-Turaif UNESCO World Heritage Site. Backed by the Public Investment Fund (PIF), Diriyah is a large-scale urban development project spanning 14-square kilometers that will include homes for approximately 100,000 residents, generate over 178,000 jobs, host approximately 50 million annual visits, and contribute around $18.6 billion (SAR 70 billion) directly to Saudi Arabia's GDP. About Diriyah Diriyah, Saudi Arabia's premier historical, cultural, and lifestyle destination, is a key component of Saudi Arabia's 2030 Vision. A short 15-minute drive from Riyadh's city center, this 14-square-kilometer development holds historical significance as the birthplace of the Kingdom of Saudi Arabia, dating back to 1727. Currently being developed by Diriyah Company, Diriyah is undergoing a transformation into an authentic Najdi-style mixed-use urban community. Diriyah's centerpiece is At-Turaif, the UNESCO World Heritage Site inscribed in 2010, showcasing the ancient adobe capital city of the First Saudi State, dating back to 1766. Upon completion, Diriyah will host 100,000 residents, workers, students, and visitors, offering a diverse range of cultural, entertainment, retail, hospitality, educational, and residential spaces. The first of those spaces include Bujairi Terrace, Riyadh's new premium dining hub with over 20 global and local restaurants and cafes that enjoy uninterrupted views of At-Turaif. Bab Samhan, a Luxury Collection Hotel is the first hospitality offering in Diriyah, providing a tranquil experience with panoramic views of Wadi Hanifah. Diriyah's development provides a dynamic environment that celebrates Saudi Arabia's rich cultural history. About Diriyah Company Diriyah Company was established in 2023 and joined the Public Investment Fund's (PIF) portfolio of giga projects. The Company is responsible for developing the Diriyah project, the birthplace of the Kingdom of Saudi Arabia and its foremost historical, cultural and lifestyle destination. A dynamic mixed-use developer, Diriyah Company is redefining urban planning to develop Diriyah, 'The City of Earth', while adhering to the highest design, development, and preservation standards. The company ensures Diriyah's cultural landmarks are complemented by world-class retail offerings, fine-dining experiences and leading hospitality brands. As a PIF company, its mission focuses on opportunities in development, hospitality, investment, retail and office leasing, along with strategic asset management, underscoring the commitment to ensuring successful business outcomes and sustainable growth under the strategic direction of Vision 2030. The Diriyah Company actively forges long-term partnerships to realize its vision of establishing Diriyah as one of the world's greatest gathering places.
Yahoo
15-07-2025
- Business
- Yahoo
Diriyah awards $600m contract to Salini Saudi Arabia for retail units
Diriyah Company has awarded a SR2.24bn ($600m) construction contract to Webuild Group subsidiary Salini Saudi Arabia for 400 retail units in the Diriyah Square retail precinct. This project aims to establish a retail district within the Diriyah Masterplan. Diriyah Square will feature a combination of leisure, retail, and dining brands. Salini's involvement marks its third major contribution to this flagship retail environment. Salini is already progressing with the construction of a 10,500-space car park beneath the square, which will include bus stations, taxi and VIP drop-off areas, and a four-lane underground gyratory. Additionally, the company is completing the structural engineering for Diriyah Square's above-ground assets, including its hotels, retail, offices, branded residences, and a mosque. Diriyah Company group CEO Jerry Inzerillo said: 'It is yet another significant milestone in our development journey and will help set the stage for Diriyah Square's retail spaces to welcome a diverse array of shoppers from our residential communities, surrounding office spaces and the millions who visit us every year.' The contract involves constructing 73 buildings and 400 shell and core retail units over a 365,340m² built-up area. The project includes finishes, facades, and fit-outs, all reflecting traditional Najdi architectural themes to create a pedestrianised retail environment. Webuild CEO Pietro Salini said: 'The Webuild Group has been present in Saudi Arabia since 1966, delivering more than 90 projects. We remain committed to supporting the kingdom in developing some of the world's most complex infrastructure projects, particularly in areas such as civil buildings, sustainable mobility, and desalination.' Diriyah Square will host 400 of the estimated 1,000 outlets that are planned across the 14km² development area of the wider SR237bn project. "Diriyah awards $600m contract to Salini Saudi Arabia for retail units" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Gulf Business
15-07-2025
- Business
- Gulf Business
Diriyah Company awards $600m Diriyah Square retail contract to Salini Saudi Arabia
Image: Getty Images Diriyah Company has awarded a SAR2.249bn ($600m) contract to Salini Saudi Arabia, a subsidiary of the Webuild Group, for the construction of Diriyah Square — a flagship retail district at the heart of the Diriyah masterplan. Part of the wider 'City of Earth' vision, Diriyah Square will feature over 400 retail, dining, and leisure brands within a pedestrian-focused setting that blends modern experiences with Najdi-inspired architecture. The project aims to redefine the retail and lifestyle offering in Diriyah and, more broadly, in Riyadh. The contract marks Salini's third major engagement on the Diriyah Square development. The company is currently advancing construction on one of the world's largest underground car parks, with 10,500 spaces, integrated bus stations, taxi and VIP drop-off zones, and a four-lane underground gyratory road that connects the entire subterranean network. Salini is also nearing completion of structural works for key above-ground assets including hotels, branded residences, offices, and the Grand Mosque. Under the new contract, Salini will construct 73 buildings across a total built-up area of 365,340 square metres, including 400 shell-and-core retail units. The scope of work includes facades, finishes, and fit-outs. Each structure will reflect traditional Najdi design principles to create an immersive pedestrianised retail environment that celebrates 300 years of cultural heritage. Read: Commenting on the latest milestone, Jerry Inzerillo, group CEO of Diriyah Company, said: 'Diriyah Square is one of our most exciting, anticipated, and prestigious districts, and we are extremely pleased to have signed with Salini to deliver it, bringing their immense global experience to the table. It is yet another significant milestone in our development journey and will help set the stage for Diriyah Square's retail spaces to welcome a diverse array of shoppers from our residential communities, surrounding office spaces, and the millions who visit us every year.' Pietro Salini, CEO of Webuild, added: 'We are proud to contribute to a project of such symbolic and strategic importance to Saudi Arabia. This will further strengthen our presence in the Kingdom and positively impact both the area and the local community. We are excited about developing this new phase of Diriyah Square, an integral part of an iconic project. The Webuild Group has been present in Saudi Arabia since 1966, delivering more than 90 projects. We remain committed to supporting the Kingdom in developing some of the world's most complex infrastructure projects, particularly in areas such as civil buildings, sustainable mobility, and desalination.' Commercial anchor Diriyah Square serves as the commercial anchor of the larger SAR237bn ($63.2bn) Diriyah masterplan. It will connect international luxury brands with regional artisans and offer a mix of retail, cultural, and entertainment experiences. The square will house 400 of the 1,000 total retail outlets envisioned across the 14-square-kilometer development. With this contract, Diriyah Company has now awarded contracts worth over SAR100bn ($26bn) since inception, including SAR20bn ($5bn) in the first half of 2025 alone. When fully developed, Diriyah is expected to contribute SAR70bn ($18.6bn) to Saudi Arabia's GDP, generate close to 180,000 jobs, and become home to around 100,000 residents. It will also feature cultural and entertainment landmarks such as the Royal Diriyah Opera House, the Diriyah Arena, museums, a university, the Royal Golf Club, and the Royal Equestrian & Polo Club.
Mid East Info
14-07-2025
- Automotive
- Mid East Info
Diriyah Company Announces $600 Million Construction Contract Award to Salini Saudi Arabia, a subsidiary of the Webuild Group, for Construction of 400 Retail Units in Diriyah Square
Construction Contract for flagship Diriyah Square retail district includes 73 individual buildings and 400 shell and core retail units over a built-up area of 365,340m2 Construction Contract awarded to Salini Saudi Arabia (a subsidiary of the Webuild Group). The announcement marks a significant milestone in creating Diriyah's premium lifestyle retail experience with 400 iconic retail brands and dining outlets. Diriyah,July 2025: Diriyah Company has announced the award of a major new $600 million (SAR 2.249 billion) contract for construction work on the high-profile Diriyah Square retail precinct to Salini Saudi Arabia (a subsidiary of the Webuild Group). Diriyah Square is situated at the heart of Diriyah, the City of Earth, the unique Najdi-inspired architectural Diriyah Masterplan. It is designed to develop a vibrant retail district featuring a mix of 400 iconic retail, leisure and dining brands. This district will emphasize exceptional customer experiences, focusing on pedestrians and offering unparalleled shopping, dining, and living opportunities. Diriyah Square aims to pioneer the future retail and leisure landscape of Diriyah, and more broadly, Riyadh. This marks the third major involvement of Webuild Group in helping to create the unique flagship retail environment in Diriyah. Salini is already well advanced in building a 10,500-space car park underneath Diriyah Square, which will be among the largest in the world. The car park will incorporate bus stations, dedicated taxi and VIP drop-off areas, and an underground four-lane gyratory connecting the subterranean Masterplan, providing best-in-class vehicle access and customer parking experiences across Diriyah Square. Salini is also in the process of completing the structural engineering for all the Diriyah Square assets above ground, including the Retail, Hotels, Branded Residences, Offices and Grand Mosque. The contract for the development of the retail district includes building 73 individual buildings and 400 shell and core retail units over a built-up area of 365,340m2 and includes the facades, finishes and fit-outs of the units. Every building will use traditional Najdi architectural design themes to create a unique pedestrianized retail environment in the heart of Diriyah reflecting 300-years of history and heritage. Commenting on the latest contract award, Diriyah Company Group CEO Jerry Inzerillo said: 'Diriyah Square is one of our most exciting, anticipated and prestigious districts, and we are extremely pleased to have signed with Salini to deliver it, bringing their immense global experience to the table. It is yet another significant milestone in our development journey and will help set the stage for Diriyah Square's retail spaces to welcome a diverse array of shoppers from our residential communities, surrounding office spaces and the millions who visit us every year. ' Pietro Salini, CEO of Webuild, added: 'We are proud to contribute to a project of such symbolic and strategic importance to Saudi Arabia. This will further strengthen our presence in the Kingdom and positively impact both the area and the local community. We are excited about developing this new phase of Diriyah Square, an integral part of an iconic project. The Webuild Group has been present in Saudi Arabia since 1966, delivering more than 90 projects. We remain committed to supporting the Kingdom in developing some of the world's most complex infrastructure projects, particularly in areas such as civil buildings, sustainable mobility, and desalination.' Diriyah Square is the retail heart of Diriyah, the City of Earth, connecting the world's finest brands with local artisan goods, and culture with leisure and entertainment. It hosts 400 of the total estimated 1000 outlets planned across the 14 square kilometer development area of the SAR 237 billion ($63.2 billion) project. With this award, Diriyah Company has reached over SAR 100 billion ($ 26 billion) in contract awards since inception with SAR 20 billion ($ 5 billion) in the first half of 2025. Diriyah, the City of Earth will contribute approximately $18.6 billion (SAR 70 billion) directly to the Kingdom's GDP, create nearly 180,000 jobs and will be home to an estimated 100,000 people. It will also include modern office space for tens of thousands of professionals in technology, media, the arts and education, museums, a university, The Royal Diriyah Opera House, the Diriyah arena, world-class hotels, restaurants, the Royal Golf Club, Wadi Safar alongside the Greg Norman designed championship golf course and the Royal Equestrian & Polo Club, Wadi Safar. About Diriyah: Diriyah, Saudi Arabia's premier historical, cultural, and lifestyle destination, is a key component of Saudi Arabia's 2030 Vision. A short 15-minute drive from Riyadh's city center, this 14-square-kilometer development holds historical significance as the birthplace of the Kingdom of Saudi Arabia, dating back to 1727. Currently being developed by Diriyah Company, Diriyah is undergoing a transformation into an authentic Najdi-style mixed-use urban community. Diriyah's centerpiece is At-Turaif, the UNESCO World Heritage Site inscribed in 2010, showcasing the ancient adobe capital city of the First Saudi State, dating back to 1766. Upon completion, Diriyah will host more than 100,000 residents, workers, students, and visitors, offering a diverse range of cultural, entertainment, retail, hospitality, educational, and residential spaces. The first of those spaces include Bujairi Terrace, Riyadh's new premium dining hub with over 20 global and local restaurants and cafes that enjoy uninterrupted views of At-Turaif. Bab Samhan, a Luxury Collection Hotel is the first hospitality offering in Diriyah, providing a tranquil experience with panoramic views of Wadi Hanifah. Diriyah's development provides a dynamic environment that celebrates Saudi Arabia's rich cultural history. About Diriyah Company: Diriyah Company was launched in January 2023 and joined the Public Investment Fund's (PIF) portfolio of giga-projects. The Company is responsible for developing the Diriyah project, the birthplace of the Kingdom of Saudi Arabia and its foremost historical, cultural, and lifestyle destination. A dynamic mixed-use developer, Diriyah Company is redefining urban planning to develop Diriyah, 'The City of Earth', while adhering to the highest design, development, and preservation standards. The company ensures Diriyah's cultural landmarks are complemented by world-class retail offerings, fine-dining experiences, and leading hospitality brands. As a PIF company, Diriyah Company's mission focuses on opportunities in development, hospitality, investment, retail, and office leasing, along with strategic asset management, underscoring the commitment to ensuring successful business outcomes and sustainable growth under the strategic direction of Vision 2030. The Diriyah Company actively forges long-term partnerships to realize its vision of establishing Diriyah as one of the world's greatest gathering places. About Webuild: Webuild is a global leader in the design and construction of large, complex infrastructure projects in sustainable mobility, hydropower, water treatment, and green buildings. A recognized leader in the water sector, it works in approximately 50 countries with over 92,000 people of 125 different nationalities. The Group boasts nearly 120 years of applied engineering on more than 3,700 completed projects, with a track record of 13,648 kilometres of railways, 891 kilometres of metro lines, 82,577 kilometres of roads and highways, 1,022 kilometres of bridges and viaducts, 3,462 kilometres of tunnels, and 318 dams and hydropower plants. Among its most famous projects: the expansion of the Panama Canal, the Long Beach International Gateway bridge in California, the Third Bosphorus Bridge in Turkey, the Sydney Metro Northwest skytrain viaduct and bridge, the Kingdom Centre skyscraper in Riyadh, Saudi Arabia, and numerous metro lines in Copenhagen, Paris, Rome, Milan, Naples, Doha, Thessaloniki, and Riyadh. Among the main ongoing projects, the following stand out: the New Genoa Breakwater, the Brenner Base Tunnel, the Pedemontana Lombarda Highway, Line C of Rome's metro network, the high-capacity railways between Genoa and Milan, the high-speed railway between Naples and Bari, the Palermo-Catania-Messina high-capacity railway, the Snowy 2.0 hydropower scheme in Australia, and the Trojena dam network in Saudi Arabia. As of December 31, 2024, the Webuild Group registered total revenues for €12 billion and a total backlog of €63 billion, with more than 90% of its construction backlog related to projects linked to the United Nations Sustainable Development Goals (SDGs). Webuild, subject to the direction and coordination of Salini Costruttori S.p.A., is headquartered in Italy, is listed on the Milan Stock Exchange, Borsa Italiana (WBD; WBD:IM), and since 2021, it is included in the MIB ESG index of the Italian blue-chip companies with the best ESG practices.
